
Axis Securities has released its latest weekly technical outlook, spotlighting its three high-conviction stock picks for short-term gains based on strong technical patterns and momentum indicators. The brokerage maintains a cautious view on broader markets, but identifies select opportunities in individual stocks showing bullish trends.
1) Datamatics Global Services Ltd (Brokerage-calculated market price: Rs 732)
Axis recommends buying Datamatics in the Rs 713–699 range, with a stop loss at Rs 668 and a potential upside of 11–15 per cent. The stock recently broke out above a descending triangle pattern at Rs 687, backed by rising volumes. This indicates the end of a long consolidation phase since December 2023. The breakout is also supported by a rebound from the 50 per cent Fibonacci retracement level, with the Relative Strength Index (RSI) confirming renewed strength.
2) Hindustan Unilever Ltd (Rs 2,520)
HUL has been suggested as a strong technical pick within the Rs 2,510–2,460 range, with a stop loss of Rs 2,385. According to Axis Sec, the stock is poised for an 8–11 per cent gain. It has staged a breakout from an inverted head and shoulders pattern at Rs 2,464 and is trading above its upper Bollinger Band, signalling a bullish reversal. The RSI trend is upward and above 50, reinforcing positive momentum.
3. Asahi India Glass Ltd (Rs 852)
Axis recommends entering Asahi India Glass between Rs 840–824, with a stop loss at Rs 770 and an upside target of 15–20 per cent. The stock has broken above a strong resistance zone near Rs 810 and continues to hold above key moving averages (20-day, 50-, 100-day and 200-day), indicating sustained bullish strength. A retest and rebound from the breakout level further validate the upside move.
Market Outlook
Despite these stock-specific opportunities, Axis maintains a cautious stance on the broader Nifty and Bank Nifty indices, which are trading with a negative bias. The report notes bearish indicators on weekly charts, warning of possible downside if support levels fail to hold.
Investors are advised to consider a holding period of 3–4 weeks for these picks while monitoring stop-loss levels closely.